Need help analyzing my first multifamily

[James Vutchins]

Hello BP community. First of all thank you for taking the time to help out a fellow investor in need. This might possibly be my first multifamily purchase; I have multiple sfrs but I am not yet comfortable running the numbers on multifamily.

Now to the deal, the property is listed for $190,000, it is 8 2b/1 units with separate water and power for each. Each rents currently for $500-525. It is 1 block for Famu and 1.5 miles from Florida state University so mainly college students. I believe around 30k in repairs will get it up to par and allow me to get $550 per unit. There is also coin operated laundry.

If my math is even close I believe I should be able to cash flow over 1k per month but I'm not positive. Once again any help or advice is VERY greatly appreciated.